LeMaitre Vascular (NSDQ:LMAT) said today it inked a deal to acquire Becton Dickinson‘s (NYSE:BDX) Cardial subsidiary for approximately $2.3 million (EU €2 million).
The Saint-Étienne, France-based subsidiary produces knitted and woven vascular grafts, valvulotomes and surgical glue, and reported approximately $3.3 million (EU €2.9 million) in sales over the past 12 months, Burlington, Mass.-based LeMaitre said.
The deal includes approximately $1.3 million (EU €1.1 million) in cash at closing, $600,000 (EU €500,000) in assumed liabilities and $500,000 (EU €400,000) of post-closing installments.
“We are pleased to expand our international footprint and product offering through this acquisition. LeMaitre now has 15 product lines, all of which are used primarily by our core customer, the vascular surgeon,” LeMaitre prez Dave Roberts said in a prepared statement.
LeMaitre said that it expects to gain $300,000 in sales and $1.6 million in operating income from the business during the fourth quarter, which includes an estimated $1.7 million gain from the “excess of the value of the assets acquired over the purchase price,” according to a press release.
Last month, LeMatire said it paid $11 million in cash and another $3 million in post-closing payments for the vascular clot business at Applied Medical Resources Corp.
